All Retail articles – Page 38
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ArticleEngland plans to reopen non-essential stores April 12
The British Prime Minister Boris Johnson announced that non-essential retailing may reopen in England on April 12 after having been closed to prevent the spread of the Covid-19 pandemic. England introduced a third national lockdown on Jan. 4. Johnson said that the vaccination campaign underway in the U.K. has “dramatically ...
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News briefs
Gap reportedly to close all British, Irish stores in July
The American fashion group Gap intends to close all of its stores in the U.K. and Ireland in July, in a move that could lead to the loss of hundreds of retail jobs, according to a report in The Times. Gap has 95 shops in the U.K. alone and is ...
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ArticleThe U.K. to regulate the “buy now pay later” market
The British government announced that the increasingly popular interest-free ”buy now pay later” (BNPL) credit agreements will be regulated by the Financial Conduct Authority (FCA) in order to protect consumers. The government noted that the volume of transactions involving BNPL solutions more than tripled in 2020 as the pandemic drove ...
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ArticleLogistics costs lift prices of Russian footwear imports
A hike in sea transportation tariffs is expected to increase prices of Russian footwear imports in the next few months, with cheaper shoes being most affected by the additional expense. At the end of 2020, the average tariffs for sea freight from China to Russia jumped from $1,500 to $9,000 ...
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News briefs
Santoni launches online business in China
Santoni, the Italian brand of high-end shoes, has opened a store on Tmall Luxury Pavilion, the B2C marketplace of the Chinese group Alibaba, as part of a direct-to-consumer, digital-first strategy for the market. Along with its TMall launch on Feb. 1, Santoni also opened an account on WeChat, through which ...
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ArticleObuv Rossii’s revenue shrank in 2020
The Russian footwear retailer Obuv Rossii reported that its revenues for 2020 decreased by 20.9 percent to10.845 billion rubles (€121m-$147m) from 13.702 billion rubles (€153m-$186m) in the previous year due to the impact of the Covid-19 pandemic. Anton Titov, chairman of the Obuv Rossii Group, stated that 2020 was one ...
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News briefs
JD Sports head says Brexit “considerably worse” than expected
The impact of Brexit on trade is “considerably worse” than expected, Peter Cowgill, chairman of JD Sports Fashion told the BBC’s World at One program. He said that red tape and shipment delays to the European single market have resulted in “double-digit millions” in additional costs. Cowgill believes that the ...
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News briefs
Besson Chaussures plans about 12 openings in 2021
The French footwear retailer Besson Chaussures plans about 12 openings this year, of which six are scheduled in March, in line with the increase seen in 2020. Next month’s six openings are across France and represent stores ranging from 525 to1,300 square meters. The retailer, which was founded in 1982, ...
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News briefs
Dune to ask landlords to concede more
Dune is reviewing its business and will ask landlords to concede more as trading conditions remain difficult in the U.K. “The trading environment continues to be extremely tough, and like many other high street retailers, we are reviewing all aspects of our business to ensure we’re in the best position ...
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ArticleBrexit will lift the cost of exporting Italian shoes to the U.K.
Brexit will inevitably increase the cost of exporting Italian shoes to the U.K., explains Siro Badon, chairman of the Italian footwear association Assocalzaturifici, in an interview with Shoe Intelligence. But, fortunately, the U.K.’s departure of the customs union and single market has not significantly affected the supply chain of Italian ...
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ArticleGeox to close 110 stores over 3 years
Geox plans to close about 110 small and less profitable stores over the next three years following net closures of 107 during 2020. The shops will be closed as leases expire in order to avoid paying penalties. The pruning is expected to reduce the company’s annual sales by €65-70 million ...
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News briefs
Brexit controls suspended in Northern Ireland
Controls introduced in Northern Ireland due to Brexit were suspended Monday evening in the ports of Belfast and Larne due to threats to personnel. Mid and East Antrim council on Monday night announced it was withdrawing 12 of its staff at Larne port with immediate effect due to concerns for ...
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Article
Lloyd’s sales plummet in 2020, company launches sustainable product line
The German shoe maker Lloyd Shoes posted a 35 to 38 percent drop in revenues last year as growth in online sales failed to compensate for the losses in brick-and-mortar stores, which suffered from coronavirus-related lockdowns. As the current lockdown in Germany is set to continue at least until Feb. ...
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News briefs
Germans’ willingness to buy is in “freefall”
The propensity to buy of German consumers is “in freefall,” according to the think tank GfK. Hit by strict Covid-19 related lockdowns, consumer confidence in Germany is seen falling to -15.6 in February from -7.5 in January, which was revised from an original reading of -7.3. “The closure of the ...
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Article
Zenden Group launches a new retail chain
The Russian footwear retailer Zenden Group has launched an innovative retail format called Digital Fashion Lounge, or Fage in its shortened form. The first store in the new format has been opened in the Kashirskaya Plaza shopping center in Moscow. Currently, Zenden Group operates nearly 250 stores under three retail ...
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Article
Unichel restructures its retail network
Russia’s biggest shoe manufacturer, Unichel, is restructuring its retail network to mitigate the impact of the Covid-19 pandemic. At the beginning of 2020, Unichel ran 600 stores in 250 cities in Russia and Kazakhstan, but last year it shut down 40 stores and opened 30 new ones, in different locations, ...
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News briefs
French shoe retailers suffer 27.5% drop in 2020 sales
Going through two Covid-related lockdowns, French specialty retailers saw their average sales decline by 18 percent in 2020, although their online turnover jumped by 80 percent for the year, including a growth of 85 percent in December, according to their trade association, Procos. Shoe retailers suffered the biggest losses with ...
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News briefsL.K. Bennett debt restructuring plan cleared
The company voluntary agreement (CVA) of the upmarket British retailer L.K. Bennett was approved by creditors. It will result in five stores closing down and the remaining shops switching to turnover-based rents. The chain has 18 standalone stores. Among the creditors who voted against the CVA was the property company ...
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News briefsKlarna enters partnership with Verifone
Klarna, the Swedish online payments group which offers ”buy now, pay later” solutions, has entered a partnership with Verifone, a California-based provider of hardware products for payment processing, that will make Klarna available to millions of Verifone devices in the U.S. and Europe. The ongoing Covid-19 pandemic has impacted shopping ...
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News briefs
H&M sales resume decline from end Oct due to Covid resurgence
In the fourth quarter running from Sept. 1 to Nov. 30, Hennes & Mauritz (H&M) saw net sales decrease by 10 percent year-on-year in local currencies. For the whole financial year, net sales declined by 18 percent in local currencies due to the impact of the Covid-19 pandemic, according to ...
